ACWA Power Signs PPA for 60 MW Floating Solar

• ACWA Power makes waves in Indonesia with 60 MW floating solar project, signaling growth potential and commitment to renewable energy in Southeast Asia.

ACWA Power has signed a power purchase agreement with Indonesia's state-owned electricity utility for a 60 MW floating solar project in Indonesia. The project, named Saguling, is part of two projects agreed upon by the Saudi company with PLN at the end of 2022, with ACWA Power holding a 49% equity stake in both projects.

The state-owned utility, PLN, will be the offtaker of power from the Saguling project. ACWA Power's chief investment officer, Thomas Brostrom, expressed excitement about the agreement, stating that this project is the first for ACWA Power in Indonesia and highlights the growth potential they see in the country. Additionally, ACWA Power is also partnering with PLN and PT Pupuk Indonesia on a green hydrogen project in Indonesia worth over USD 1 billion.

Overall, ACWA Power's signing of the PPA for the Saguling floating solar project in Indonesia marks a significant step for the company's presence in the country. With plans for further projects and partnerships in Indonesia, ACWA Power is positioning itself as a key player in the renewable energy sector in Southeast Asia.

What is ACWA Power's latest solar project in Indonesia with PLN?

• ACWA Power has signed a power purchase agreement with Indonesia's state-owned electricity utility for a 60 MW floating solar project named Saguling.
  
• The project is part of two projects agreed upon by ACWA Power with PLN at the end of 2022, with ACWA Power holding a 49% equity stake in both projects.
  
• The state-owned utility, PLN, will be the offtaker of power from the Saguling project.
  
• ACWA Power's chief investment officer, Thomas Brostrom, expressed excitement about the agreement, highlighting the growth potential they see in Indonesia.
• ACWA Power is also partnering with PLN and PT Pupuk Indonesia on a green hydrogen project in Indonesia worth over USD 1 billion.
• The signing of the PPA for the Saguling floating solar project marks a significant step for ACWA Power's presence in Indonesia, positioning the company as a key player in the renewable energy sector in Southeast Asia.